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Austin Grocers recently reported the following 2016 incomestatement (in millions of dollars):Sales$700Operating costs including depreciation500EBIT$200Interest40EBT$160Taxes (40%)64Net income$96Dividends$32Addition to retained earnings$64For the coming year, the company is forecasting a 30% increasein sales, and it expects that its year-end operating costs,including depreciation, will equal 60% of sales. Austin's tax rate,interest expense, and dividend payout ratio are all expected toremain constant.What is Austin's projected 2017 net income? Enter your answerin millions. For example, an answer of $13,000,000 should beentered as 13. Round your answer to two decimal places.$ millionWhat is the expected growth rate in Austin's dividends? Do notround your intermediate calculations. Round your answer to twodecimal places.%**PLEASE LABEL ANSWERS VERY CLEARLY*****